Ensign Peak Advisors Inc Reduces Stock Position in CSX Co. (NASDAQ:CSX)

Ensign Peak Advisors Inc cut its position in CSX Co. (NASDAQ:CSX) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 517,963 shares of the transportation company’s stock after selling 40,578 shares during the period. Ensign Peak Advisors Inc’s holdings in CSX were worth $16,715,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Joel Isaacson & Co. LLC grew its stake in CSX by 2.4% during the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock worth $421,000 after purchasing an additional 310 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its stake in shares of CSX by 1.0% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock valued at $1,027,000 after buying an additional 313 shares during the period. West Branch Capital LLC grew its position in shares of CSX by 3.3% during the fourth quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company’s stock worth $333,000 after buying an additional 332 shares in the last quarter. Alhambra Investment Management LLC grew its position in shares of CSX by 4.3% during the fourth quarter. Alhambra Investment Management LLC now owns 8,292 shares of the transportation company’s stock worth $268,000 after buying an additional 342 shares in the last quarter. Finally, Trust Point Inc. increased its stake in shares of CSX by 2.6% during the fourth quarter. Trust Point Inc. now owns 13,722 shares of the transportation company’s stock worth $443,000 after buying an additional 344 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Royal Bank of Canada decreased their price target on shares of CSX from $31.00 to $30.00 and set a “sector perform” rating for the company in a research note on Thursday, April 17th. Argus set a $32.00 price objective on shares of CSX in a research report on Friday, April 25th. Stephens reiterated an “overweight” rating and set a $38.00 target price on shares of CSX in a research note on Friday, January 24th. JPMorgan Chase & Co. cut their price target on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Finally, Susquehanna decreased their price target on CSX from $37.00 to $35.00 and set a “positive” rating for the company in a report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.86.

CSX Trading Down 0.8%

Shares of CSX stock opened at $28.74 on Monday. CSX Co. has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a market capitalization of $53.99 billion, a P/E ratio of 16.06, a PEG ratio of 1.92 and a beta of 1.22. The company’s fifty day moving average is $28.78 and its two-hundred day moving average is $31.84. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. Analysts forecast that CSX Co. will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Friday, May 30th. CSX’s dividend payout ratio is presently 31.14%.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.